Category: News

Silverpeak, the mid-market technology specialist representing European growth businesses in M&A and financing transactions, has acted as the exclusive financial advisor to Swiss space robotics leader, ClearSpace SA, in a $29m financing round.

ClearSpace is focussed on in-orbit services and space debris removal, having won a €110m mission contract from ESA, plus further projects with UKSA and Intelsat, amongst others. Their advanced guidance, navigation and control (GNC) technology enables proximity and rendezvous operations in space, opening up significant new market areas.

This financing round was led by OTB Ventures and Swisscom Ventures, with participation from Lakestar, Luxembourg Future Fund, In-Q-Tel, Happiness Capital and 600 T Space Investments. As part of the financing, the company has also established an operational presence in Luxembourg to benefit from the strong space and satellite focus there.

Silverpeak was engaged due to the team’s deep understanding of the new space market dynamics as well as its connections with international deeptech and growth investors. The dedicated team worked closely with ClearSpace to develop financial plans, target suitable investors, negotiate the terms of the round and project-manage the investor syndicate and deal process through to closing.

ClearSpace founders, CEO Luc Piguet and CTO Muriel Richard, said “Silverpeak understood what we are trying to achieve and got that message across to investors, whilst also providing invaluable support throughout the process. We are delighted to now welcome onboard the new investors for our continued journey to improve space sustainability”

David Ford, partner at Silverpeak, said “As one of the leading space sector advisers, we are delighted to have worked with the ClearSpace team on this transaction. ClearSpace is doing a spectacular job of delivering the technology needed for the large, future in-orbit servicing market.”

 

You can read more about this transaction and ClearSpace’s missions in the following articles Spacenews, Tech.eu and Sifted

Silverpeak, the mid-market technology specialist that represents European growth businesses in M&A and financing transactions, has acted as the exclusive financial advisor to the shareholders on the sale of Avvio, including institutional investor Calculus Capital.

This move brings together two of the industry’s most dynamic, entrepreneurial companies and follows Serent Capital’s investment in SHR in 2020. Serent Capital sponsored the acquisition of Avvio through SHR to create a technology powerhouse for independent hotels and chains with unrivalled customer support across the world.

Headquartered in Limerick, Ireland, and founded in 2002 Avvio has been a pioneer in hotel technology for 20 years. In 2017 it launched the world’s first AI powered booking engine, allora.ai. Today allora.ai provides technology to over 500 hotels around the world and powers over £400m in transactions every year.

Silverpeak worked closely with management and shareholders on this transaction, leading a global twin-track private equity and strategic process accompanied by a full suite of vendor due diligence; reaching out to an international audience within a highly competitive process. Silverpeak supported management on the refinement of their business plan and operating model, shaped the equity story, negotiated key transaction terms and skilfully navigated the shareholders through an increasingly complex and evolving economic backdrop.

The eventual acquirer optimally allowed for an exit event as well as participation for management as part of a wider hotel technology group. Headquartered in Houston, Texas, SHR is a revenue generating platform that helps hotels to execute their best revenue generation strategies through its tightly integrated central reservation system (CRS), customer relationship management, and revenue management systems. It supports over 1,500 independent, group, casino and long-stay hotels, manages over 6 million reservations, sells 19 million room nights and drives £2 billion revenue per year through its Windsurfer CRS.

Frank Reeves, CEO & Co-Founder of Avvio Limited, said, “Silverpeak understood what we wanted and delivered a great buyer paying an attractive price. Throughout the process Silverpeak’s team were passionate about the Avvio business and sector whilst providing wise counsel, problem solving and strategic positioning. Our dedicated Silverpeak team were impressive from day-1 and quickly established a strong, collaborative relationship with us. I was impressed by their global reach to all the relevant strategic buyers and private equity bidders, and they designed a process that allowed me to continue as an investor in the business going forward“.

Sean Finnan, Chairman of Avvio Limited, said, “I found the Silverpeak team energetic on the details and thoughtful on the strategic approach which led to a very positive outcome for all concerned. Would definitely recommend them to anyone evaluating partners for a company sale”

Paddy MccGwire, Managing Partner at Silverpeak, said “Avvio is an exceptional hotel software business led by co-founder CEO Frank Reeves, with strong international growth.  We ran a global twin-track PE and strategic sale process, selecting Texas headquartered SHR,, as they were not only a great strategic  fit, but also provided an opportunity for the CEO, Frank, to roll some of his proceeds into the combined business”.

 

For moe information please contact:

Paddy MccGwire pm@silverpeakib.com

Christopher White cw@silverpeakib.com

Matthew Gemmell mg@silverpeakib.com

 

 

Silverpeak has advised the Vaarst management team on the extension of their Series B financing round, bringing the fundraising total to over $26m. The advanced capabilities of the company’s 3D SLAM computer vision and autonomous robotics technology that enable subsea ‘digital twin’ creation, plus the growth in the ‘blue-economy’ sector has attracted additional investors including the Strategic Development Fund and Future Planet Capital and has driven additional participation from existing investors.

Silverpeak, the mid-market technology specialist that represents European growth businesses in M&A and financing transactions, acted as the exclusive financial advisor to Vaarst and its sister company Rovco in extending the round from the initial $20m raised.

Vaarst is a leading provider of subsea 3D computer vision and SLAM technologies; supporting offshore wind, wave and tidal, scientific, and maritime security sectors. It also uses ground-breaking AI-based technology to revolutionise how energy companies manage subsea infrastructure and improve asset integrity.

Rovco delivers Vaarst technology into the energy transition space, mainly focused on its use for subsea surveys in the offshore wind sector where it is a market leader in the UK, and also in oil field decommissioning and subsea cable laying.

Vaarst and Rovco had already accelerated their global expansion plans following the first close of the Series B raise in March, entering the US market through the strategic appointment of Mitch Johnson, their new Americas Director. Its existing customers now include Iberdrola, SSE and Deepocean, and the company has recently signed a contract with Van Oord to perform subsea investigation works on Dutch offshore wind farm Hollandse Kust Noord.

Silverpeak was engaged due to its expertise in the deeptech and software sectors, as well as extensive knowledge of the international investor market. The company was positioned as an autonomous robotics leader in the global blue technology sector and attracted a range of international financial investors as well as strategic counterparties with a strong interest in renewable energy and ESG-focused investments.

David Ford, Partner at Silverpeak, leading the process said “We are delighted to be the ongoing /retained advisers to the Vaarst and Rovco teams as they accelerate their global growth plans. The additional investment announced here demonstrates Vaarst’s technology lead in the marine robotics marketplace, and also the ability of the Rovco team to execute complex offshore contracts effectively.”

For more information please contact David Ford, Partner: df@silverpeakib.com

 

 

Silverpeak, the mid-market technology specialist that represents European growth businesses in M&A and financing transactions, has acted as the exclusive financial advisor to Camplify Holdings Limited (ASX:CHL) on the acquisition of Germany’s largest peer-to-peer (“P2P”) digital marketplace PaulCamper.

Camplify has grown to become one of the world’s leading P2P digital marketplaces for recreational vehicles (“RVs”). Powered by proprietary technology, the platform seamlessly and transparently connects owners to hirers. The resulting marketplace makes it more accessible for RV enthusiasts whilst simultaneously monetising under-utilised assets for owners.

By delivering a truly scalable marketplace through automation and the network effect, Camplify has seen rapid growth.  During its first full year of trading on the Australian Securities Exchange the business delivered a GTV of 54m AUD and revenues of 16m AUD, an increase on the previous year of over 63% and 95% respectively.

Silverpeak advised Camplify on the strategic acquisition of PaulCamper and continues to work closely with the board as its dedicated financial advisor to support its inorganic expansion across Europe.

Justin Hales, CEO of Camplify Holdings Limited said, “This acquisition doubles the size of the existing Camplify business and strengthens our presence in the European market. PaulCamper is one of Europe’s largest and longest-running platform operators. Silverpeak provided Camplify with expert analysis and advice in a challenging European market, and we value their contribution to our strategic growth objectives. We welcome the PaulCamper team and its community of RV owners and hirers to the global Camplify community. We look forward to helping more people worldwide enjoy van life”.

Paddy MccGwire, Managing Partner at Silverpeak said “This is a very strategic acquisition for Camplify and starts the process of European consolidation that market participants have been expecting. It has been great working with Camplify, a clear-thinking client focussed on creating strategic value. Online marketplaces like Camplify are leading the technological transformation in eCommerce and will play an important role in shaping our future economy”

For more information please contact:

Paddy MccGwire – pm@silverpeakib.com

Christoper White  – cw @silverpeakib.com

Silverpeak, the mid-market technology specialist that represents European growth businesses in M&A and financing transactions, has acted as the exclusive financial advisor to CRP Technology and CRP USA (collectively “CRP”) in the investment by ITT Inc. (NYSE:ITT).

CRP has invested in carbon-reinforced 3D printing since 1996, becoming a pioneer in additive manufacturing in Europe. It has advanced additive manufacturing capabilities through its Windform technology range, the leading, lightweight, fiber-reinforced composite materials for industrial 3D printing. Initially focused on manufacturing of high-performing parts with  applications in motor racing, including Formula One vehicles, CRP now works with clients in the space, aerospace, defense and premium automotive industries to create complex designs that help reduce mass, weight, and costs, while shortening lead times and enhancing endurance.

Silverpeak worked closely with CRP on this transaction, supporting the group in the preparation phase, identification of suitable investors and negotiations of the terms and the structure of the transaction up to the closing.

Franco Cevolini, Chief Executive Officer of CRP Technology, said: “Silverpeak are true technology enthusiasts who brought vitality and professionalism to every stage of our transaction. They understand additive manufacturing and were able to identify the best strategic and financial partners. They displayed tenacity and sophistication when it really mattered, to achieve the very best deal.”

Pietro Strada, Managing Partner at Silverpeak said: “We are delighted to have worked with CRP’s management and shareholders led by Franco Cevolini, and to have achieved this transformative deal with ITT. The Cevolini family is an incredible example of entrepreneurialism and CRP has gained a great position in the global additive manufacturing industry. We are proud to have had the chance to work with them”.

For more information please contact Pietro Strada: ps@silverpeakib.com

Silverpeak, the mid-market technology specialists that represent European growth businesses in M&A and financing transactions, advised Worksmart on its sale to Davies, the leading specialist professional services and technology business, serving insurance and highly regulated markets.

Worksmart is the leading supplier of regulatory technology (“RegTech”) for people and process management. The Worksmart product range enables organisations to track and manage regulatory processes across customer complaints & feedback, quality assurance, training & competence, the Senior Managers & Certification Regime (“SM&CR”) in the UK, and the Individual Accountability Regime (“IAR”) in Singapore.

Based in Milton Keynes, UK, Worksmart serves financial services organisations across insurance, banking, investment and consumer credit, helping them to manage the growing complexity of operating within the highly regulated space. Worksmart is the number one provider of RegTech for complaints management and feedback in the Lloyd’s market, and the firm’s proprietary platform ‘Foundation’ remains the “go-to” solution for training & competence needs within the Banking and Wealth Management sectors. The firm’s SaaS solution ‘Accord’ is the only purpose-built SM&CR tech available in the UK.

Silverpeak worked with the management team to uncover every source of value and refine the equity story before identifying the most relevant global buyers that would benefit from this RegTech business with a dominant position in the UK market and further market growth in Singapore and Ireland. The whole process was completed in under 6 months.

Andy Nightingale, Worksmart CEO, said, “Silverpeak worked hard and fast to understand every element of our business, discovering sources of hidden value that proved strategically important to our eventual acquirer. I have no doubt this helped deliver a materially higher sale price.”

Paddy MccGwire, Silverpeak Managing Partner leading the transaction said, ”Having had a very competitive process with strategic buyers from Europe and the US, BC Partners’ portfolio company Davies were ideal due to a great cultural fit whilst providing a lot of leverage to the business in its next chapter of growth.”

For more information please contact:

Paddy MccGwire – pm@silverpeakib.com

Dorian Maillard  – dm@silverpeakib.com

Silverpeak has advised Vaarst on the first $20m of a Series B funding round, led by Legal & General and Equinor Ventures, to accelerate the development of 3D SLAM and autonomous marine robotics technologies.

Silverpeak, the mid-market technology specialists that represent European growth businesses in M&A and financing transactions, acted as the exclusive financial advisor to Vaarst and its sister company Rovco, the UK-based innovative ‘blue-economy’ technology and renewables-focussed services businesses, on a significant growth investment to help drive the next phase of expansion. Legal & General and Equinor co-led the round; other participants include strategic investor for the US intelligence and defence communities In-Q-Tel, and existing shareholders Foresight Group and Martlet Capital.

Vaarst is a leading provider of subsea 3D computer vision and SLAM technologies; supporting offshore wind, wave & tidal, scientific, and maritime security sector. It also uses ground-breaking AI-based technology to revolutionise how energy companies manage subsea infrastructure and improve asset integrity.

Rovco delivers Vaarst technology into the energy transition space mainly focused on its use for subsea surveys in the offshore wind where it is a market leader in the UK, and in oil field decommissioning.

This new investment enables Vaarst & Rovco to continue global expansion plans, targeting the USA and Asia, as well as increasing its presence across Europe. Its existing customers include Iberdrola, SSE and Deepocean.

Silverpeak was engaged due to its expertise in deep tech, software, and knowledge of the international investor market. We advised Rovco & Vaarst on its Series B financing by positioning the company as an autonomous robotics leader in the global blue technology sector and approaching a range of international financial investors as well as strategic counterparties with a strong interest in renewable energy and ESG-focused investments.

Brian Allen, CEO of Rovco/Vaarst said, “The Silverpeak team helped us build the equity story and business plan; held in-depth discussions with global investors; put together the multi-party transaction; and provided invaluable support throughout the process all the way to closing – it was a huge undertaking and I’m sure resulted in a better outcome than managing the process in-house”

David Ford, Partner at Silverpeak leading the process added “Through this process, we confirmed that the Vaarst technology is years ahead of any competition, and with this capital injection from some great investors the business is now very well placed to capitalise on the huge opportunities in the subsea marine robotics space.”

For more information please contact David Ford, Partner: df@silverpeakib.com

Silverpeak is delighted to announce that it has advised Italian new space leader, D-Orbit, on a €51.5m convertible fundraising, ahead of its recently announced $1.2bn SPAC merger, which at completion will make it a unicorn.

D-Orbit addresses the logistics needs of the space industry and is the first-mover to provide in-space satellite transportation services for commercial and institutional clients via its ION satellite carrier. This orbital transfer vehicle transports satellites in-orbit and releases them individually into distinct orbital slots, significantly reducing both the time from launch to operations and also the launch costs of an entire satellite constellation. The company has already launched four ION missions which have successfully and precisely deployed over 70 customer satellites.

Silverpeak worked closely with the company to raise a financing round, including strategic and financial investors, which was structured as a convertible instrument in light of the pending SPAC transaction.

Luca Rossettini, D-Orbit CEO said “Silverpeak’s in-depth knowledge of the space market together with its outstanding execution capabilities and connections with investors across the sector proved invaluable. The team helped us build our investment case, financial models and presentations which led to interest from global investors, ultimately paving the way to the NASDAQ listing that we have just announced.”

David Ford, partner at Silverpeak added “Luca and the team at D-Orbit have done a first-class job of delivering missions and customer value in this sector, in a capital-efficient way. We are proud to have worked with the global leader in satellite last-mile delivery, and believe the space sector will continue to offer fantastic investment opportunities.”

For more information please contact David Ford: df@silverpeakib.com

We are delighted to start the year having a significant boost to the team with new additions and promotions at every level.

Following a successful 2021 and looking forward to working with many more exciting technology firms in the year ahead, we are delighted to announce the appointment of a new Partner, Nick Jones, who joins us from Equiteq. As recognition for their energy and dedication, we have also had three internal promotions, including David Ford to Partner. Having also recruited an additional VP, Associate and two Analysts in the last six months, we are set for an excellent year ahead.

New Partner – Nick Jones

Nick joins Silverpeak from Equiteq where he headed the global M & A team, giving him a real understanding of cross-border deals in the technology services and software sectors. He brings over 20 years of experience working with entrepreneurs and investors at every stage of their business evolution.

Nick also focuses on private equity coverage; having spent five years as a principal investing in SMEs at a French investment bank where he developed an understanding of the interface between entrepreneurs and ‘corporate’ lenders and investors – this knowledge is often key to creating value in transactions and giving good advice.

Nick says “Joining Silverpeak is a great opportunity for me to bring my experience and knowledge to a new team and work with a like-minded group of people who are passionate about technology businesses and share my dedication to unearthing the best solution for all stakeholders.”

Commenting on the appointment, Paddy MccGwire, Managing Partner, said “We are thrilled to have Nick join the team at this exciting time in our growth. He brings many years of experience in complementary sectors and has the energy and drive that we value in all our team members.”

Contact Nick: nj@silverpeakib.com

 

New Partner – David Ford

Many of you will know David, who has been with Silverpeak for four years.

He has been promoted from his Managing Director role to join the Partner team.

His experience in both industry and advisory enables him to understand which buyers or investors would derive the greatest value from any given deal and what it takes to get deals done in the technology sector. David’s operational experience is within the telecoms, satellites, location services, sensors and precision engineering sectors.

David says, “I am delighted to be joining the growing Partner team and to continue delivering the best value deals to clients whilst working with such great people.”

Pietro Strada, Managing Partner, said, “David has real sector insight gleaned from many years as a leader in technology businesses, which he brings to his transactions and in generating value for stakeholders.”

Contact David: df@silverpeakib.com

 

New Marketing Director – Emma Payne

Emma has joined Silverpeak as a consultant Marketing Director. She brings a 25-year track record of delivering measurable and effective marketing solutions in professional services industries.

Having spent her early career at Arthur Andersen in both local and global marketing roles, Emma worked in a couple of PE-backed firms before becoming Marketing Director at Lyceum Capital (Horizon). Since 2005, Emma has worked independently with firms such as EY, Investec, Freshfields, Bowmark Capital, Catalyst (Alantra), Livingstone (Arrowpoint).

Emma says, “It is an exciting time to be joining the Silverpeak team as it expands and looks set for strong growth and opportunities in 2022 and beyond.”

Contact Emma: ep@silverpeakib.com